Lampard is set to leave Chelsea, and has joined MLS side New York City FC, where David Villa will join him

At 7:30pm this evening we exclusively reported that Frank Lampard has signed for New York City and had taken a pay cut in order to do so.

Atletico Madrid striker David Villa is set to join him at New York City FC, the new MLS outfit.

NYCFC won't play their first MLS match until March 2015, so it is possible that Lampard could be loaned back to Chelsea, but this has yet to emerge.

Of course, he could also end up on loan at Manchester City, who share the same owners as New York City FC.

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Frank Lampard was with David Villa today at Manchester City's Carrington complex, where they met with New York City FC coach Jason Kreis.

Perhaps the move won't come as too much as a surprise for Chelsea fans, with Frank Lampard at the age of 35.

But David Villa is only 32-years-old, and played an incredibly important part in Atletico Madrid's successful Liga campaign.

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Well Fabrice Muamba says he saw it coming.

It has to be said that David Villa to NYC had been reported by Spanish press as being on the cards, but other than Frank Lampard's links to LA Galaxy last season, he hasn't been heavily linked to the MLS this year.

Lampard's decision to quit London for the Big Apple signals the end of his 13-year association with the club he joined from West Ham for £11million in 2001.

Since then the 35-year-old midfielder has clinched three Premier League titles, four FA Cups, two League Cups, the Champions League and the Europa League.

Chelsea's record scorer with 211 goals, Lampard has rejected a 12-month extension at Stamford Bridge after making 40 appearances in all competitions last season.

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Darren Lewis

Both deals are a huge statement of intent from City's US franchise which kicks off in the new Major League Soccer season next March.Lampard is understood to be have agreed to a basic wage significantly less than the £150,000-a-week that he picked up at Chelsea.

That pay packet is expected to be boosted substantially by bonuses however with the England midfielder's signing a massive coup.